44817 Redwood Avenue, Lancaster, California 93534, Lancaster, 93534 - bed, bath
ACTIVE$729,900
44817 Redwood Avenue, Lancaster, California 93534
0Bed
0Bath
2,800Sqft
7,503Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Multi-Unit Income Property: As a triplex, the property offers diversified rental income streams, enhancing investment stability and cash flow potential for an owner.
Top Cons:
Property Age & Potential System Upgrades: Built in 1963, the property's age suggests that core systems (e.g., plumbing, electrical, HVAC) may be original or outdated, potentially requiring significant capital expenditures in the near future.
Compared to the nearby listings
Price:$729.9K vs avg $540.0K (+$189,900)90%
Size:2,800 sqft vs avg 2,051 sqft90%
Price/sqft:$261 vs avg $25950%
More Insights
Built in 1963 (62 years old).
Condition: The property was built in 1963, making it over 60 years old. While Unit #3 has received recent cosmetic updates including new interior paint, new carpet, new laminate flooring in the kitchen, and new tile counters, these are not extensive renovations for the entire triplex. The kitchen in Unit #3, despite new flooring, features basic white cabinets and tile countertops, which are functional but aesthetically dated. The exterior has new paint, but the overall structure and visible systems (like the roof AC unit) appear older. The condition of the other two units and bathrooms is not detailed or shown, implying they are likely in an older, more original state. The property is maintained enough to be tenant-occupied but shows its age and requires further updates beyond the cosmetic ones in Unit #3 to meet modern standards, fitting the 'Fair' category.
Year Built
1963
Close
-
List price
$730K
Original List price
$750K
Price/Sqft
$261
HOA
-
Days on market
-
Sold On
-
MLS number
SR25073211
Home ConditionFair
Features
ViewNeighborhood
About this home
***TRIPLEX PROPERTY***...Located in West Lancaster. Subject property offers 3 units which consists of: Unit#1 (3 bedrooms, 1 bathroom), Unit#2 (2 bedrooms, 1 bathroom), and Unit#3 (2 bedrooms, 1 bathroom). Landlord pays for water & trash. Tenants pay for electricity, and gas. Subject property features NEW EXTERIOR PAINT, and unit#3 offers NEW INTERIOR PAINT, NEW CARPET, TILE COUNTERS in the kitchen, and NEW LAMINATE FLOORING in the kitchen. There is also a detached carport for tenants. Tenants are on a month-to-month lease.
Condition Rating
Fair
The property was built in 1963, making it over 60 years old. While Unit #3 has received recent cosmetic updates including new interior paint, new carpet, new laminate flooring in the kitchen, and new tile counters, these are not extensive renovations for the entire triplex. The kitchen in Unit #3, despite new flooring, features basic white cabinets and tile countertops, which are functional but aesthetically dated. The exterior has new paint, but the overall structure and visible systems (like the roof AC unit) appear older. The condition of the other two units and bathrooms is not detailed or shown, implying they are likely in an older, more original state. The property is maintained enough to be tenant-occupied but shows its age and requires further updates beyond the cosmetic ones in Unit #3 to meet modern standards, fitting the 'Fair' category.
Pros & Cons
Pros
Multi-Unit Income Property: As a triplex, the property offers diversified rental income streams, enhancing investment stability and cash flow potential for an owner.
Recent Updates & Curb Appeal: The property benefits from new exterior paint and significant interior renovations in Unit #3 (new paint, carpet, kitchen counters, laminate flooring), improving overall appeal and tenant readiness.
Reduced Landlord Operating Costs: Tenants are responsible for their own electricity and gas expenses, which significantly reduces the landlord's ongoing utility burden.
Flexible Lease Terms: All tenants are currently on month-to-month leases, providing a new owner with immediate flexibility for rent adjustments, property management changes, or potential owner-occupancy.
Dedicated Tenant Parking: The inclusion of a detached carport offers convenient and essential off-street parking for tenants, a desirable amenity in rental properties.
Cons
Property Age & Potential System Upgrades: Built in 1963, the property's age suggests that core systems (e.g., plumbing, electrical, HVAC) may be original or outdated, potentially requiring significant capital expenditures in the near future.
Inconsistent Unit Modernization: Only Unit #3 has received recent significant interior updates, implying that Units #1 and #2 may be dated and require further investment to maximize rental income and tenant appeal across all units.
Ongoing Landlord Utility Expenses: The landlord is responsible for water and trash services, representing a consistent operating cost that impacts the property's net income.